Monthly Archives: April 2020

resolve digital signage solutions

How Australia’s signage and printing industry can thrive post-COVID-19

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It’s a challenging time for the printing and signage industry.

As many industries have shut down, for the time being, the amount of work on offer has dramatically decreased.

And many companies have responded to this the wrong way.

They’re offering to do jobs for little or no profit, just to keep the work ticking over. 

What this is going to do is set a precedent for the industry. Clients will come to expect these reduced prices as standard.

Once this precedent is set, the signage industry will struggle to make money, and companies will go out of business.

Now more than ever, we need to work together to future-proof our businesses. The industry simply can’t afford to go without fair margins. Not now, not ever.

Sure, it may be a temporary morale boost to be busy at a time like this, but what happens when your clients continue to expect dirt cheap prices? Eventually, the money will run out.

It’s a small short term gain that’s setting businesses up for crippling long term pain.

All of us must work together to make sure we maintain our existing profits and not just try to win work for now.

Our industry’s livelihood depends on it.

The trick to staying profitable during a pandemic

The trick to staying profitable during a pandemic

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There have been many businesses in our industry who are struggling and have had to shut down as a result of the pandemic we’re in.

We are fortunate that Resolve has been ticking along well, and we’re in a great place to emerge from the pandemic better off.

So why is it that some businesses are struggling while their direct competitors are thriving?

The answer lies in building relationships.

The work that we’re doing now is a result of business we started six months ago, so the projects we laid the groundwork for back then will continue to gain steam.

Relationships are more important in business than ever before. In these uncertain times, people are more likely to revert to their trusted network rather than those they don’t know.

As everyone gets swept up in the current hysteria, it can be hard to turn your mind to a near future in which this has passed.

However, nothing is stopping you continuing to build those relationships and set you and your clients up for a strong future

In every passing day lies the chance to put the building blocks in place and lay the groundwork for a better tomorrow.

The planners and the optimists will be the real winners post-pandemic.

large format printing melbourne

How to handle cashflow during tough times (the lessons I’ve learned in 20+ years of signage/printing)

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One of the biggest challenges that businesses are facing right now is managing their cash flow.

The scaling back and total shutdown of some industries are having far-reaching effects, since many other industries will rely on them for work, and therefore the cash flow they need to maintain operations.

For a lot of businesses who might have been expecting to get paid for work they did in the months leading up to the coronavirus crisis, the shutdowns have meant going without the funds they need to stay afloat.

It’s a tricky situation, so how do you approach it with your clients? 

More than ever before now is the time to work together. Negotiate with your clients about what they can pay and when.

When negotiating, your goal should be to make sure you can raise enough cash flow to pay your operating costs while making sure your client can still meet theirs.

It may take time, but extra communication with your clients will make sure both businesses can survive and thrive as we slowly come out of lockdown.

Building and strengthening the existing relationships you have with clients is going to be what will help you both survive these difficult times, and ensure a more profitable partnership in the better times ahead.